I have burning and itching sensation on the walls around vaginal entrance. I am 6 months pregnant. Also my husband has similar sensation in the penis. Kindly please suggest us an ointment that would relieve us.

Self medicating is foolish and dangerous, particularly when you are pregnant. Sounds like some sort of STD that you both have.

My best guess, Yeast Infection?

You and your husband need to see a doctor.

It's my understanding that male yeast infections are somewhat uncommon: "However, if your girlfriend has a yeast infection, it doesn't mean you'll get one too. Sexual transmission of yeast infections is uncommon.

Prolonged antibiotic use increases your risk of a yeast infection, and men and women with diabetes or impaired immune systems, such as those with HIV, are more susceptible to yeast infections.

Signs and symptoms of a male yeast infection include a reddish rash, itching or burning at the tip of the penis. Most male yeast infections are easily treated with over-the-counter antifungal treatments, such as Monistat (yes, men can use it too). Apply the medication directly to the affected skin twice daily for a week. If the rash doesn't go away, or if it recurs frequently, consult your doctor.

If you and your partner both have symptoms of genital yeast infection, it's important that you both be treated. Otherwise, you may keep reinfecting each other. Also, it's generally recommended that you refrain from sexual contact until all signs and symptoms of the infection are gone" http://www.mayoclinic.com/health/male-yeast-infection/HO00172

Not saying that isn't the case - just saying it's uncommon.

This is why they should both see a doctor.

Sounds like a yeast infection. I would go see a doctor asap!

Yes, if enough people post exactly the same info and chat about it the OP is more likely to "listen."